The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-09-22
A PIT-HOLE LEGEND.
The Well in Which j. Wilkes Booth
Once Held an Interest.
From the Pittsb,u'g Dispatch.

From the PittSbttrg Dispatch.
1t is not generally known that j. Wilkes
Booth, the assassin of President Lincoln,
was at one time an oil producer, yet such is
the fact, and the ld-timers relate singular
coincidence of that time. Booths visit to
that section of the country in 1864 is well
known, and glass from the window of the
McHenry house at Meadville, on which he
had written his name with one of his dia-
lnonds while stopping there, is preserved in
Philadelphia. At the time of his visit the
oil regions were in the highest etate of ex-
citemeut, and, in fact, the whole country
had gone daft and was in OIL Hundreds of
oil companies had just sprung into life, and
their shares were being eagerly taken at
par, whether the figures were 500 or fifty
cents share. Some of them were bona
tide stock companies, representing valuable
property, and dozens of them were swindleS,
the shares not being worth the fine litho-
graphic work ON the certificates. Millions
of dollars were invested by the people of
Philadelphia, New York, Boston, Baltimore
and everywhere else in oil stock and mil
lions We're never seen by spectators who
were in such haste to get rich that they
never paused to examine into the truth or
falsity of the claims presented to them.
Anything with oil or petroleum in the name
of it was good enough for an investment in
those days, though a great many people
have never recovered from the shock which
followed this unreasoning fever of specula-
ton, and still look with suspicion upon any
thing and everything connected with the
petroleum business, even to the persons now
legitimately engaged in it.
But Booths investment was in none of
these wildcat companies. He bought a thir-
tenth interest in the famous Homestead
- IL
cash. The, Homestead was great well in
its day and produced considerable quanti-
ty of crude petroleum and corresponding
wealth for its owners, with oil selling at 81
to S. at the we'll Booth did not retain his
interest long, however, but sold it to Jo
Simonds, at present well-known citizen of
Bradford, who made some money out of the
production. The Homestead hoated flag
when the glad tidings of the ending of the
war were telegraphed to Pithole, but that
flag was never lowered to half-mast in
mourning for the martyred President. For
the very night that Abraham Lincoln was
shot by j. Wilkes Booth the Homestead well
caught fire from gas explosion, and when
| the sad news reached Pithole, that wonder
| full mushroom city was overhung by "a pail
| of black smoke from the burning oil. When
the citizens of Oil City and Titusville went
out the next morning to hang crrpe about
| could see the black pillar standing against
the sky over Pithole.
True Booth did not own any part of the
well when it burned, nor for some time be-
| fore, but the coincidence was generally re-
marked and the superstitious shook theiI
heads and declared the hand of Providence
was in the affair. The flag so proudly fly
ing to the breeze a few days before, was
| burned with the well, and the half-masted
b,.irr Hosr
| their brilliant colors when peace was as
sured were grimed by the volumes of thick
smoke from the well in which this assassin
| had once owned an interest The incident
remarked at the time, was soon lost sight OF
| in the wild excitement of the days. but still
fingers in the memory of many of the pic
neer oil men, and is occasionally told by
some forge fire in a derrick or by the gas
fire in the stove of some wildcat board
ing house to group of men who have made
acquaintance with soildom since those stir
ing days.
1t was Just after this time that the late
martyred President Garfield championec
the cause of the oil producers, and urged
the adjustment of the tax on crude pc
troleum, which he declared was uni st anC
impolitic. As an article of growing export
he contended that its PRODUCT IN should be
encouraged and his pleadings were effective
/
abolished altogether. 1t is related in thi.
connection that at the election in 1880 al
aged. white haired man limped up to the
| polling place in an oil region town, helC
| aloft his ticket proposed three cheers for
! Garfield in a tremendous voice, and after
cheering as Justify as he could deposited
what he declared to the crowd was the first
| ballot, other than Democratic, he had evel
cast, and all because of Garfield's efforts tc
| ho1 tla h,,,. 70 FOL off DIR
| petroleum fifteen years before.
The change in the oil country in its bust
ness methods and general condition since
| 1865 has been as great and complete as was
the change in that week from the NANTES
| lions of rejoicing over the close of the wal
to those of sorrow over the violent death OF
| the beloved Lincoln. Twenty-Five years
ago oildom was land of excitement, hap
| hazard and wild speculation. 1t is now one
of careful and provident business calcula
ton, and just at present suffering from q
depression and quiet most completely in
contrast with the rush and reckless whirl OF
| twenty years ago The aggregate transfers
of oil property during the past three months
would not equal in amount the transfers of G
single day at the time Wilkes Booth made his
| investment in the Homestead well. If com
pared with some particular days of that time
| the past year would not reach an equa
|
but poor rivals of the great 'gushers" of the
Washington field to-day The total invest
ment of producers in the Washington field
including the drilling of wells and purchase
of lands, has been less than S2,00O,000 TIL,
total investments at Pithole exceeded $25,
100000 Washington will produce more
| than twice as much oil as Pithole did, but
the product will sell for less than half a.
much money These figures depict pretty
clearly the contrast between the present anC
the time when Wilkes Booth was an oil man
Perhaps they will convey to the average
mind the difference more effectually thar
anything else could between the time whei
the first pipe line was laid and guarded
against the assaults of indignant teamsters.
and the achievement of practical perfection
in the operation Of the methods of transpor-
tation by pipe lines.
| Why Longstreet Went Into Politics